Jamba (JMBA) Misses Q2 EPS by 1c

Jamba (NASDAQ: JMBA) reported Q2 EPS of $0.38, $0.01 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $54.13 million versus the consensus estimate of $55.4 million.

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We have now closed deals to refranchise 150 stores, which is well above our initial goal of 114 stores. We plan to refranchise an additional 76 company-owned stores in three California markets this year and in the Chicago/Midwest market by the end of the first quarter next year. By the end of 2015, we expect to be a 90% plus franchise organization” said James D. White, chairman, president and chief executive officer of Jamba, Inc.

“This transition period lays the groundwork for Jamba’s focus on increasing shareholder value through profitable growth for our expanding franchisee network, ongoing reduction of our cost structure to a best-in-sector level and innovative product development to accelerate the growth of our on-trend juices, smoothies and energy bowls while we continue with our robust share-repurchase program,” said Mr. White.

”Jamba made excellent progress during the quarter in its cost reduction efforts, which lowered G&A to $7.8 million on a non-GAAP basis(2) for the quarter as compared to $9.6 million in the second quarter of 2014. Same store sales for the quarter were hurt by weather conditions during May in California, where Jamba has a concentration of stores. Strong sales in April and June could not offset the impact of the severe shortfall in May, but positive sales trends have resumed with third quarter-to-date same store sales up 6.0% in company-owned units and 3.8 % system-wide,” Mr. White concluded.

For earnings history and earnings-related data on Jamba (JMBA) click here.

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